Another impressive missive by MrSpock. His diatribe is lenghty, so if you are interested, you can find the remainder here:

http://boards.prudentbear.com/bbs_re...

Gather 'round wounded Gold Hoarders

Uncle Spock has a nice, long diatribe filled with soothing words (and some not so soothing) to assuage your broken, bleeding little orifices. Or at least to help you arrive at some sober realities.

But first you must promise to:

1. Put down the razor blade currently positioned at your wrist
2. Climb back in the window from that 14th floor ledge
3. Stop frantically calling Jim Sinclair every five minutes and screaming at the poor man. He's busy enough just trying to keep the governments from nationalizing his gold mines, much less babysit a bunch of crybabies


Okay, onto applying verbal Bactine and Band-Aids to your skinned little knees.

Pop Quiz: Where were you Gold Hoarding Seditionists (GHSs) on this date in 2006? Were you in a similar state of mind as gold had been smashed down from $730 to $540—a twenty-six percent collapse? Did you give up? sell out? Buy T-Bills or Goog?

If this observer had told you exactly two years ago that gold would be three-hundred fiatscos higher today, would you have believed him? Would you have piled in? If he told you that you would also be despondent with gold at $858ish, would you have laughed him in his pointy-eared face?

Furthermore, if this Vulcan told you that during this latest horrid, heinous, hijacking of profits on your hard-earned hoard by The Evil Klingon Cabal only constituted a 16% smackdown from the recent high of $1030 back in March would you feel better?

No?

Okay, how about rubbing these facts and questions on your bruised and battered buns:

1. It was a scant three weeks ago that Fannie and Freddie were literally in danger of pulling down your entire planet's financial system into a black hole. Your debt enabling foreign central banks were putting a metaphorical gun to Stank Hankzooka's shiny head and demanding that Uncle Sugar cover for the failed twins. And he and your Congress caved in immediately, as they knew how dire were the circumstances

2. Did the Fed raise Fed Funds Politburo rates this week? Did they even so much as release a hawkish Politburo proclamation?

3. Did the ECB raise rates? Did they do anything but quietly say “boo” to the Gold Hoarding Community?

4. Despite their typical threat to do so, how much gold did the IMF sell this week? Or last year? Or ever, for that matter? Answer: none. Period.

5. Is the credit collapse over? Close to over?